Oh, yeah! Here's what's going on.Late last year, hedge funds started shorting stockin the...
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Oh, yeah! Here's what's going on.
Late last year, hedge funds started shorting stock
in the retail store GameStop. Meaning they had bet against it
and needed it to drop in price for their investments to be successful.
Now unfortunately for the hedge funds, small investors started buying the stock
led by something called Wall Street Bets, a popular, juvenile,
foul-mouthed Reddit page. And when Wall Street Bets noticed that hedge funds had taken
a large short position in GameStop stock, they decided to punish
the Wall Street big boys and launched a coordinated buying spree. The revolutionaries on Reddit
are spanking Wall Street's ass. GameStop shares absolutely going nuts.
I think it was up over 70% at one point. - Massive short squeeze,
- Show me
Late last year, hedge funds started shorting stock
in the retail store GameStop. Meaning they had bet against it
and needed it to drop in price for their investments to be successful.
Now unfortunately for the hedge funds, small investors started buying the stock
led by something called Wall Street Bets, a popular, juvenile,
foul-mouthed Reddit page. And when Wall Street Bets noticed that hedge funds had taken
a large short position in GameStop stock, they decided to punish
the Wall Street big boys and launched a coordinated buying spree. The revolutionaries on Reddit
are spanking Wall Street's ass. GameStop shares absolutely going nuts.
I think it was up over 70% at one point. - Massive short squeeze,
- Show me
Full Transcript
00:00:01.000 --> 00:00:02.376
Oh, yeah!
00:00:02.376 --> 00:00:05.996
Here's what's going on.
Late last year,
00:00:05.996 --> 00:00:09.675
hedge funds started shorting stock
in the retail store GameStop.
00:00:09.675 --> 00:00:13.262
Meaning they had bet against it
and needed it to drop in price
00:00:13.262 --> 00:00:17.999
for their investments to be successful.
Now unfortunately for the hedge funds,
00:00:17.999 --> 00:00:22.605
small investors started buying the stock
led by something called Wall Street Bets,
00:00:22.605 --> 00:00:26.275
a popular, juvenile,
foul-mouthed Reddit page.
00:00:26.275 --> 00:00:28.011
And when Wall Street Bets noticed
00:00:28.011 --> 00:00:31.947
that hedge funds had taken
a large short position in GameStop stock,
00:00:31.947 --> 00:00:34.617
they decided to punish
the Wall Street big boys
00:00:34.617 --> 00:00:37.453
and launched a coordinated buying spree.
00:00:38.003 --> 00:00:41.003
The revolutionaries on Reddit
are spanking Wall Street's ass.
00:00:41.003 --> 00:00:47.171
GameStop shares absolutely going nuts.
I think it was up over 70% at one point.
00:00:47.171 --> 00:00:49.131
- Massive short squeeze,
- Show me...
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Movie Summary
David vs. Goliath tale about everyday people who flipped the script on Wall Street and got rich by turning GameStop (the video-game store) into the world's hottest company.
